Barclays PLC Analysts Give Owens Corning Inc (OC) a $75.00 Price Target

Barclays PLC set a $75.00 price objective on Owens Corning Inc (NYSE:OC) in a research note issued to investors on Thursday morning. The brokerage currently has a hold rating on the construction company’s stock.

A number of other research firms also recently commented on OC. SunTrust Banks, Inc. reiterated a hold rating on shares of Owens Corning in a report on Tuesday, September 12th. BidaskClub upgraded shares of Owens Corning from a sell rating to a hold rating in a report on Friday, August 25th. Jefferies Group LLC reiterated a buy rating and issued a $72.00 target price on shares of Owens Corning in a report on Sunday, July 9th. Stifel Nicolaus reaffirmed a buy rating and set a $83.00 price objective on shares of Owens Corning in a research report on Friday, September 1st. Finally, Royal Bank Of Canada boosted their price objective on shares of Owens Corning from $79.00 to $90.00 and gave the company an outperform rating in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $76.74.

Shares of Owens Corning (OC) traded up 0.25% during midday trading on Thursday, hitting $79.41. 1,263,135 shares of the stock were exchanged. Owens Corning has a 12-month low of $46.45 and a 12-month high of $81.06. The firm has a 50-day moving average price of $77.70 and a 200-day moving average price of $68.42. The company has a market cap of $8.83 billion, a PE ratio of 22.81 and a beta of 1.05.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities analysts predict that Owens Corning will post $4.33 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 2nd. Shareholders of record on Monday, October 16th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 13th. Owens Corning’s dividend payout ratio is currently 23.88%.

In other Owens Corning news, CFO Michael C. Mcmurray sold 14,000 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $76.52, for a total transaction of $1,071,280.00. Following the sale, the chief financial officer now owns 40,903 shares of the company’s stock, valued at approximately $3,129,897.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Kelly Schmidt sold 1,462 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $70.35, for a total transaction of $102,851.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 212,866 shares of company stock worth $15,644,970. Insiders own 1.80% of the company’s stock.

Large investors have recently modified their holdings of the business. Geneva Advisors LLC boosted its stake in shares of Owens Corning by 6.2% in the 2nd quarter. Geneva Advisors LLC now owns 10,380 shares of the construction company’s stock valued at $695,000 after purchasing an additional 603 shares during the last quarter. Marshall Wace North America L.P. boosted its stake in shares of Owens Corning by 317.3% in the 2nd quarter. Marshall Wace North America L.P. now owns 92,940 shares of the construction company’s stock valued at $6,227,000 after purchasing an additional 70,667 shares during the last quarter. Aviva PLC boosted its stake in shares of Owens Corning by 14.3% in the 2nd quarter. Aviva PLC now owns 39,967 shares of the construction company’s stock valued at $2,674,000 after purchasing an additional 5,000 shares during the last quarter. Northpointe Capital LLC boosted its stake in shares of Owens Corning by 4.6% in the 2nd quarter. Northpointe Capital LLC now owns 40,348 shares of the construction company’s stock valued at $2,700,000 after purchasing an additional 1,778 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Owens Corning by 35.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 91,953 shares of the construction company’s stock valued at $6,153,000 after purchasing an additional 24,014 shares during the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Company Profile

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.

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